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Uber And Airbnb Could Get Themselves Publicly Listed In 2019

Uber And Airbnb Could Get Themselves Publicly Listed In 2019
Reports suggest that two top companies form the United States could get themselves listed next year.
Both the companies would be ready to goo public in 2019, said the CEOs of Uber and Airbnb at a tech conference recently. However, this does not automatically mean that they are actually going to do it.
Uber is on track to go public in the "second half of 2019", said Dara Khosrowshahi, the company’s CEO during an on-stage interview at the Code Conference in Rancho Palos Verdes, California.
"I need a CFO though," Khosrowshahi said.
The company has been running without a CFO some 2015.
The timetable was also echoed by Brian Chesky, Airbnb's CEO, but he appeared to be a little less certain.
"We'll be ready to IPO next year, but I don't know if we will," Chesky said at the conference. "We have investors who are really patient and I want to make sure that it's a major benefit to the company when we do it."
In February, Airbnb had said that that it is profitable.
And after years of continuous losses, the first and rare instance of profit was reported by Uber in the first quarter of 2018. That profit was however primarily driven by the sale of two of the foreign business operations of the company to rivals.
but it was largely due to the company ceding two of its operations abroad to rivals.
Some Wall Street analysts are however excited by the chances of both the companies getting themselves publicly listed in the very same year.
"Either of those deals could headline a year, so having both come in 2019 would make it a big year for tech IPOs. Or rather the big year for tech IPOs," says Matt Kennedy, an analyst at Renaissance Capital, which manages IPO-focused exchange-traded funds.
"I think we've all been waiting for the dam to break loose on that flood of unicorn IPOs," Kennedy added.
In 2017 and 2018, there have been a number of unicorns or billion-dollar startups that have got themselves publicly listed and the list includes the likes of Spotify, Dropbox, and DocuSign. But in comparison to these, Uber and Airbnb would be quite larger.
According to Uber, it is now planning a secondary stock sale which would set the valuation of the company at $62 billion. And a funding round last year has valued the Airbnb at $31 billion.

Christopher J. Mitchell

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